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View Diary: Flu And You - Part V (146 comments)

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  •  Then it's even bigger... (0+ / 0-)

    the GDP has been slipping, so this bill will grotesquely expand the national debt as a percentage of GDP.

    Basically, it will do in a month what it took Bush needed 2 years to do.

    Free speech? Yeah, I've heard of that. Have you?

    by dinotrac on Sun Feb 08, 2009 at 02:45:25 PM PST

    [ Parent ]

    •  We can avoid expanding national debt. (0+ / 0-)

      After the crisis has passed.

      It's very simple:
      Raise taxes on the few who can afford it.

      We've done it before. It worked.

      A stimulus package must be big to simulate; economists want to see it at a certain % of the GDP and we're nowhere near enough spending.

      •  It's not that simple. (0+ / 0-)

        Part of the problem is that the few are, by definition, the few.

        The rest of us outnumber the rich by -- a lot.

        Another part of the problem is that we have no taxes on wealth, per se, other than the inheritance tax, and local government property taxes.

        We tax income, we tax capital gains (and that comes at the price of adding friction to the financial marketplace), but we don't tax wealth.

        Remember that top 2% of earners they talked about during the campaign?  Where did that start?  It was about $250K as I recall.  Good income, absolutely.  Definitely out of my league, but...There ain't no way that 2% of people are going to carry the other 98.

        Spending more money means taxing everybody eventually.

        Free speech? Yeah, I've heard of that. Have you?

        by dinotrac on Sun Feb 08, 2009 at 03:52:55 PM PST

        [ Parent ]

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